mining - bowmans · 2019-05-14 · simandou iron ore project. we reviewed all aspects of the...

MINING

BOWMANSBOWMANS

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Mining

Contents

04 OurFirm

05 OurFootprintinAfrica

06 OurMiningSector

07 OurSpecialistServices

08 OurSignatureMatters

10 Accolades

12 KeyContacts

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Our Firm

WithsixofficesinfourAfricancountriesandover400specialisedlawyers,we

aredifferentiatedbyourindependenceandthequalityoflegalservicesweprovide.

WedrawonouruniqueknowledgeoftheAfricanbusinessenvironmentandin-depthunderstandingofthesocio-politicalclimatetoadviseclientsonawiderangeoflegalissues.Ouraimistoassistourclientsinachievingtheirobjectivesassmoothlyandefficientlyaspossiblewhileminimisingthelegalandregulatoryrisks.

Ourclientsincludecorporates,multinationalsandstate-ownedenterprisesacrossarangeofindustrysectorsaswellasfinancialinstitutionsandgovernments.

Ourexpertiseisfrequentlyrecognisedbyindependentresearchorganisations.WewererankedfirstbydealvalueandsecondbydealcountinMergermarket’s2018Africaleaguetables

forlegaladvisors.WereceivedawardsinfiveoutofsixcategoriesattheDealmakersEastAfricaAwardsfor2018:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear.IntheDealmakersSouthAfricaAwardsfor2018,wewereplacedfirstfordealflowintheGeneralCorporateFinancecategory.

WewerenamedSouthAfricanLawFirmoftheYearfor2018intheChambersAfricaAwardsforExcellenceandAfricanLawFirmoftheYear(LargePractice)attheAfricanLegalAwardshostedbyLegal Week andtheCorporateCounselAssociationofSouthAfrica.Wewerealsooneofonlytwofirmsthattookhomethreepracticeawards-forPropertyandConstructionTeamoftheYear,EnergyandNaturalResourcesTeamoftheYearandTMTTeamoftheYear.

Bowmans is a leading African law firm. Our track record of providing specialist legal services, both domestic and cross-border, in the fields of corporate law, banking and finance law and dispute resolution, spans over a century.

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Bowmans offices

Relationship firm

Significant transaction or advisory experience

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Our Footprint in Africa

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

WeprovideintegratedlegalservicesthroughoutAfricafromsixoffices(Cape

Town,DaresSalaam,Durban,Johannesburg,KampalaandNairobi)infourcountries(Kenya,SouthAfrica,TanzaniaandUganda).

WeworkcloselywithleadingNigerianfirm,UdoUdoma&Belo-Osagie,andMozambique-basedboutiquefirm,TacianaPeãoLopes&AdvogadosAssociados.WealsohavestrongrelationshipswithotherleadinglawfirmsacrosstherestofAfrica.

WearerepresentativesofLexMundi,aglobalassociationwithmorethan160independentlawfirmsinallthemajorcentresacrosstheglobe.Thisassociationgivesusaccesstothebestfirmsineachjurisdictionrepresented.

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Our Mining Sector

Asthelong-termdemandforAfrica’sresourcesgrows,weanticipateagrowingdemandforrelatedlegalservices.

Wehaveastrongrecordofactingonthemostsignificantmining-relatedmergersandacquisitionsacrosstheAfricancontinent.Wesupportourclientsthrougheveryaspectofminingandresourcerelatedtransactionsfromtheinitialduediligencethroughregulatorycompliancetonegotiatingandclosingthedeals.Wehavealsoadvisedonsomeofthelargestandmostinnovativedebtandequitycapitalmarkettransactionsonthecontinent.

Weareabletoco-ordinateourservicethroughasinglepointofcontactofferingaseamlessserviceandmakingtheexecutionofcross-bordertransactionslesscumbersome,time-consumingandcostly.

Whetherclientsarenegotiatingofftakes,supplysidecontractsorrequireday-to-daycommercialagreementsupport,wehavethenecessarydepthofexpertiseandskillstoassist.

Weregularlyadviseclientsonallmattersrelatingtolocalmininglegislation,includingbutnotlimitedtocompliance,miningtitleandotherlegalopinions,applicationsandacquisitionsofrights,reviewapplications,appealsandduediligences.

Wehaveassistednumerousclientsontheinteractionofenvironmentalandmininglegislation,includinglicensing,appealsandcourtreviewsoflicensingdecisions.

Wehaveexperienceinsuccessfullyobjectingtothegrantofprospectingorminingrightapplicationsandpursuingappealsagainstdecisionsregardingthegrantorrefusalofminingandprospectingapplications.

Ourexperienceextendstomineincidentandaccidentenquiries,dealingwithnotificationsandassistingwithlegalcomplianceassociatedwithhealthandsafety.

Ourclientsincludeglobalminingandresourcescompanies,investors,banksandfinancialinstitutions,state-ownedenterprisesandvariousgovernmentdepartmentswithintheminingandresourcessector.

We have established

ourselves as a leading

legal adviser within

the mining industry in

Africa and offer a full

complement of legal

services in this sector.

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Our Specialist Services

WeregularlyadviseclientsonallmattersrelatingtolocalminingandresourcesandrelatedlegislationacrosstheAfricancontinent,includingbutnotlimitedto:

• seniorandstrategiclocalgovernmentandlocalregulatorengagementsinAfrica;

• mergersandacquisitions,jointventuresandjointoperatingagreements;

• capitalmarketstransactions;• advisingborrowersintheminingand

resourcesindustryandfinanciersonminingfinancetransactions;

• draftingofcommercialminingandresourcescontracts,suchascontractmining,offtakeandsupplyagreements;

• environmental,occupationalhealth-and-safetyandminingregulationissuesinAfrica;

• indiginisationandblackeconomicempowermentintheminingandresourcesindustryinAfrica;

• variousregulatoryapplicationsinAfrica,includingapplicationsforthegrantofmineralrights,applicationsfortheMinister’sconsenttotransfermineralrightsandapplicationstoamendmineralrights;

• appealorreviewproceedings;• collectivebargainingandunion

reorganisationandretrenchmentandgenerallabourlawprocedures,processesandappearances;and

• draftingofminingtitleandtransferabilityopinionsandconductingduediligenceinvestigationsonminingtitles.

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“Bowmans has

continued its emergence

and now has a hugely

impressive client base”.

– Legal 500, 2018

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Someofournotableexperienceintheminingandresourcessectorincludesadvising:

• AfricaBarrickGold(nowAcaciaplc)withrespecttonumerousregulatory,compliance,environmentalandemploymentlawmattersaffectingAcacia'sgroupofminesinTanzania(includingBulyankuluMine,BuzwagiMineandNorthMaraGoldMiningLtd);

• AfricanRainbowMineralsLtd(ARM)ontheproposedrestructuringoftheARMBroad-BasedEconomicEmpowermentTrust.ThisinvolvedaspecificrepurchasebyawhollyownedsubsidiaryofARMof12717328millionsharesinARMfromtheARMBroad-BasedEconomicEmpowermentTrustandtherefinancingoftheARMBroad-BasedEconomicEmpowermentTrust.ThistransactionwasvaluedatZAR1.9billion;

• AfricanRainbowMineralsonitsjointventurewithValeforminingassetsinDemocraticRepublicoftheCongo,Mozambique,NamibiaandZambia;

• AngloGoldAshantiLtdinrespectofitsproposedrestructuring(demerger)ofthecurrentportfolioofAngloGoldAshantiintoseparatelistedvehiclesforeachofitsSouthAfricanandinternationalminingoperations.Theproposeddemergerwascoupledwithaproposedrightsoffer,bothofwhichwerewithdrawnfollowinglackofshareholderappetite(totaldealvalueofUSD7.1billion);

• AssmangLtd,SumitomoCorporationandChinaSteelCorporationinajointventure,inrespectoftheconstruction,commissioningandoperationofhighcarbonferromanganeseand/orsilico-manganesesmeltingplantinSarawak,MalaysiawithavalueofZAR3.3billion;

• BankofChinaLtd,FirstRandBankLtd,NedbankLtd,ABSABankLtd,InvestecBankLtd,JPMorganChaseBankandStandardBankofSouthAfricainthenegotiationandconclusionofaZAR4.5billionsecuredtermandrevolvingfacilitycomprisingaZAR2.5billionrevolvingcreditfacilityandaZAR2billiontermloanfacilityprovidedtoSibanyeGoldLtd,acompanylistedontheJSELtd;

• BarrickGoldCorporation(Canada)inthedisposalofthreeofitsminesinWesternAustraliatoGoldFieldsLtd,wheretheconsiderationreceivedwaspartcashandpartsharesinGoldFieldsLtd;

• BMONesbittBurnsInc,CIBCWorldMarketsInc,MacquarieCapitalMarketsCanadaLtd,RBCDominionSecuritiesInc,MerrillLynchCanadaInc,GMPSecuritiesLP,RaymondJamesLtdinrespectofapublicofferingof95834100unitsforanaggregateamountCAD143751150byCanadianminingcompany,IvanhoeMinesLtd;

• AmajorCanadianfundonitsinvestmentintominingassetsinBurkinaFasoandMali.WeconductedafullduediligenceonboththeBurkinabéandMalianassetsandprovideddetailedopinions;

• CreditSuisseAGandStandardCharteredBank(jointly),asSouthAfricanandEnglishleadcounsel,inthedebtandequityrestructureofaSouthAfricanminingcompany,Southgold,anditsCanadianparentcompany;

• DodsalResourcesFZCOwithrespecttonumerousregulatory,compliance,environmentalandemploymentlawmattersaffectingtheirtwominingcompaniesinTanzania–DodsalResourcesMiningItilimaandDodsalResourcesMiningItingi;

Our Signature Matters

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• ENRCNVinthesaleof51732782ordinarysharesheldinNorthamPlatinumLtd(constitutingapproximately13.01%ofNortham’sissuedsharecapital),followedbyabookbuildinrespectofsuchshareswhichresultedintheplacementofallofthesharesheldbyENRCNV(dealvalueapproximatelyZAR2.5billion);

• SouthAfricancounseltothejointbookrunnersinrelationtoGoldFieldsLtd’srecentacceleratedbookbuildshareplacementvaluedatZAR2.3billion;

• TheGovernmentofGuinea(togetherwithinternationalcounsel)ontheUSD18billionSimandouIronOreProject.Wereviewedallaspectsoftheproject,fromcorporatetoenvironmentaltoemploymentlaw;

• Hulamininrespectoftheestablishmentoftheblackeconomicempowermententity,IsizindaAluminium(Pty)Ltd,andthesubsequentacquisitionofBHPBilliton'sBaysidecasthouseintheRichard'sBayindustrialdevelopmentzone;

• CompetitioncounseltoKomatsuLtdinitsacquisitionofindirectsolecontrolofJoyGlobal,Inc.Weattendedtothemergerfilinginrelationtothistransaction.ThedealisKomatsu'slargestdealeverandonceitiscompleted,Komatsuanditsclosestcompetitorwillaccountforatleastaquarteroftheworld’ssalesofminingequipment.TheglobaltransactionisvaluedatUSD2.9billion;

• MinmetalsontheZambianandSouthAfricanaspectsofitsapproximatelyUSD1.3billionofferforAnvilMining;

• NorthamPlatinuminrelationtotheestablishmentofabroadbasedconsortiumofHistoricallyDisadvantagedSouthAfricans(HDSA),whichwillhold31.4%ofNortham’sissuedshares,bringingNortham’stotaleffectiveHDSAownershipleveltoapproximately35.4%(dealvalueZAR6.6billion);

• RioTintoontheSouthAfricanaspectsofitsacquisitionofAfricafocusedRiversdaleMining,listedontheAustralianStockExchange,and(i)thesubsequentsaleofitscoalassetsinMozambiquetoInternationalCoalVenturesPvtLtdand(ii)thedisposalof100%ofitssharesinRiversdaleHoldings(Pty)LtdtoGalaxyBV(asubsidiaryofMenarHolding.);

• RoyalBafokengPlatinumLtdinrelationtoacombinedofferingofitsshares(involvingaprimaryissuebythecompany,andasecondaryissuebyitsshareholders);

• ShandukaGroup(Pty)LtdandthemajorityshareholdersinrelationtotherestructuringofShandukaGroup(Pty)LtdandmergerwithPembaniGroup(Pty)Ltd,tocreateanewZAR13.5billionblack-controllednaturalresourcesandindustrialholdinggroup;

• TheStandardBankofSouthAfricaLtdinthedisposalofitsentirestakeinShandukaGold(Pty)LtdtoPanAfricanResourcesLtdinatransactionvaluedatZAR176million;

• TransHexGroupLtd,JohannesburgStockExchangelisteddiamondminingcompany,inrelationtoamandatoryofferbyCreamMagenta140(Pty)Ltd,Metcap14(Pty)Ltd,andRACInvestmentHoldings(Pty)Ltd;

• TheTanzanianNationalDevelopmentCorporationwithrespecttoitsMchuchumaCoalProjectaswellasitsjointventurewithSichuanHongdaGroupLtdontheLigangaIronOreProject;

• WogenPacificLtdinrespectofapre-financeagreementintheamountofUSD2millionandofftakeagreementwhichisestimatedtohaveanetpresentvalueofUSD68.9million.

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AccoladesAFRICANLEGALAWARDS2018WewerenamedAfricanLawFirmoftheYear(LargePractice).Wewerealsooneofonlytwofirmsthattookhomethreepracticeawards-forPropertyandConstructionTeamoftheYear,EnergyandNaturalResourcesTeamoftheYearandTMTTeamoftheYear.

CHAMBERSAFRICAAWARDS2018

WewerenamedSouthAfricanLawFirmoftheYear.

DEALMAKERSSOUTHAFRICAAWARDS2018

WewereplacedfirstfordealflowandthirdfordealvalueintheGeneralCorporateFinancecategory,andthirdfordealvalueandfourthfordealflowintheM&Acategory.

DEALMAKERSEASTAFRICAAWARDS2018Wereceivedawardsinfiveoutofsixcategories:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear(theRubisEnergietakeoverofKenolKobil).

MERGERMARKETLEAGUETABLES2018WewererankedfirstbydealvalueandsecondbydealcountintheAfricaleaguetablesforlegaladvisors,andthirdbydealcountintheMiddleEast&Africaleaguetableforlegaladvisors.

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71 37 66Recognised Lawyers

Recognised Lawyers

Recognised Lawyers

BAND1

KENYA

Banking&FinanceCorporate/M&AEmploymentIntellectualPropertyRealEstate

SOUTHAFRICA

CapitalMarkets:DebtCapitalMarkets:EquityCompetition/AntitrustCorporateInvestigationsCorporate/M&AEmploymentEnvironmentIT&TelecommunicationsProjects&EnergyPublicLawShippingTax

TANZANIA

GeneralBusinessLaw

UGANDA

GeneralBusinessLaw

BAND2

SOUTHAFRICA

Banking&FinanceDisputeResolutionFintechMedia&BroadcastingRestructuring/Insolvency

KENYA

FintechProjects&Energy

CHAMBERS & PARTNERS 2019 RANKED US IN THE FOLLOWING AREAS

TIER1KENYA

Financial&CorporateMining

SOUTHAFRICA

CapitalMarketsPowerM&AUGANDA

Financial&CorporateProjectDevelopment

TIER2KENYA

PowerInfrastructure

SOUTHAFRICA

BankingInfrastructureMiningOil&GasProjectFinance

TIER3TANZANIA

Financial&CorporateProjectDevelopment

IFLR1000 2019 RANKED US IN THE FOLLOWING AREAS

TIER1KENYA

Banking&FinanceCommercial,Corporate&M&AEmploymentRealEstate&Construction

SOUTHAFRICA

Commercial,Corporate&M&ACompetitionEmploymentProjects&InfrastructureShipping

TANZANIA

LeadingFirm

UGANDA

LeadingFirm

TIER2KENYA

DisputeResolutionPrivitisation&Projects

SOUTHAFRICA

Banking&FinanceConstructionDisputeResolutionInvestmentFundsTax

THE LEGAL 500 EMEA 2019 RANKED US IN THE FOLLOWING AREAS

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CHARLESYOUNG HeadofMiningJohannesburg,SouthAfrica T:+27116699327E:charles.young@bowmanslaw.com

Key Contacts

CLAIRETUCKER HeadofPublicLawandRegulatoryJohannesburg,SouthAfrica T:+27116699402E:claire.tucker@bowmanslaw.com

EZRADAVIDS ChairmanofCorporate/M&AJohannesburg,SouthAfrica T:+27116699320E:ezra.davids@bowmanslaw.com

WILBERTKAPINGA

ManagingPartner,TanzaniaDaresSalaam,Tanzania

T:+255768988640E:wilbert.kapinga@bowmanslaw.com

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RAINBOWFIELD DirectorNairobi,Kenya T:+254202899000E:rainbow.field@bowmanslaw.com

DAVIDF.K.MPANGA PartnerKampala,Uganda T:+256414254540E:david.mpanga@bowmanslaw.com

Toviewprofilesofourlawyers,

pleasevisitwww.bowmanslaw.com

WANDISILEMANDLANA PartnerJohannesburg,SouthAfrica T:+27116699562E:wandisile.mandlana@bowmanslaw.com

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CapeTown

T:+27214807800E:info-cpt@bowmanslaw.com

DaresSalaam

T: +255768988640E: info-tz@bowmanslaw.com

Durban

T:+27312650651E:info-dbn@bowmanslaw.com

Johannesburg

T:+27116699000E:info-jhb@bowmanslaw.com

Kampala

T:+256414254540E:info-ug@bowmanslaw.com

Nairobi

T:+254202899000E:info-ke@bowmanslaw.com

FollowusonTwitter:

@Bowmans_Law

www.bowmanslaw.com